16
Sat, Feb
45 New Articles

WFW advises HSH Nordbank on the Transfer of 10 Vessels to the Navios Group

Deals and Cases
Typography

Watson, Farley & Williams has advised HSH Nordbank on a transfer of 10 distressed vessels out of its non-core portfolio to the Navios Group.

The fleet comprises five medium or large range product tankers and five panamax or sub-panamax container vessels, with an average age of six years and a market value in the region of USD 218 million. Watson, Farley & Williams describes the "highly structured complex financing" as "a landmark deal in the shipping industry, providing a blueprint on how lenders may look to dispose of their non-performing debts without giving up their recovery potential in case of an improving shipping market." 

The financing comprises four different levels of debt and security in respect of each vessel and complex inter-creditor arrangements to comply with the securitization requirements of the lenders. Navios funded the acquisition through USD 120.4 million senior bank debt, USD 10 million investment plus working capital from Navios, and a USD 173.4 million subordinated HSH participating loan.

WFW Asset Finance Partners George Paleokrassas and Clemens Hillmer led the team, and were supported by Patrick Smith, Electra Stamatopoulos, Gladys Sexl and Michael Valentin.

 

Serbia Knowledge Partner

Karanović & Nikolić is a leading international legal practice in South East Europe that offers unrivalled regional and sector specific coverage to investors. As a market leading practice, our dedication, quality legal service, and in-depth understanding of the needs of our clients stands out as a differentiating factor. With over 100 advisors across the region, our original values remain an integral part of our philosophy and approach to client work. Karanović & Nikolić has been involved in many of the largest and most complex transactions in the region and we take pride in our reputation as a regional transactional and corporate/commercial legal powerhouse.

Because we have an active business presence in Bosnia & Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Slovenia, we operate seamlessly across all of these jurisdictions, providing regional services to our clients, while taking into consideration local particularities in order to provide the best legal advice under competitive terms. Renowned for the quality of our lawyers and our commercial approach to solving problems, Karanović & Nikolić advises many of the leading companies, banks, investors and government institutions doing business in the SEE region.

All News about, and Legal Analysis by, Karanovic & Nikolic can be found here.

Firm's website: https://www.karanovic-nikolic.com/

 

Our Latest Issue